Just weeks ago, Bitcoin’s long-term outlook was anything but bullish. As the macroeconomy started to feel the effects of the coronavirus outbreak, global markets crashed in tandem, leaving no asset classes spared, crypto included.This culminated in the middle of March in a massive liquidation event that saw stocks, commodities, foreign currencies, Bitcoin, and even gold…
Another week, another round of Crypto Tidbits. Bitcoin has performed extremely well over the past week, managing to rally as high as $7,800, which is a pre-crash level, just the other day in a move that liquidated $70 million worth of short positions. Altcoins have been posting equally as impressive performances, with some actually managing to…
Bitcoin is entering uncharted waters as it trades against a backdrop of global economic turbulence, and so far it has held up surprisingly well – posting year-to-date gains while the equities market continues trading well below where it started the year.It now appears that the “perfect storm” for Bitcoin could be brewing, as two rapidly…
Much to the chagrin of investors, Bitcoin has formed a close correlation to the traditional markets in recent times that has exposed the cryptocurrency to significant downwards momentum throughout the past several weeks.Although BTC has been able to post some notable gains in recent times as the benchmark stock indices all stabilize, it is important…
Bull and bears are constantly battling it out on cryptocurrency exchanges and trading platforms, hoping to push Bitcoin price higher or lower, and profit immensely from whatever trades they make or positions they take.But their strategies can be easily clouded by their own bullish or bearish bias. Using just one trend line only across two…
Bitcoin tops near $15,000 on Lebanon P2P marketplaces as the country’s official fiat crashes 50 percent in just a month.The bitcoin rate in international is just above $7,500.Lebanon is facing its worst economic crisis, with inflation hitting record highs amidst liquidity crunch.Bitcoin is trading almost twice its current rate in an economically-hit Lebanon.Peer-to-peer bitcoin marketplace…
Bitcoin’s market dominance is trending downwards since September 2019.The crypto’s top rivals have posted better year-to-date returns after Coronavirus-induced sell-off in March 2020.Top analysts have called for an altcoin season to begin this Q2.The Bitcoin Dominance Rate, a ticker that tracks bitcoin’s market share against rivaling crypto tokens, has fallen from 73.02 percent to 64.66…
If you told an early Bitcoin adopter ten years ago that the cryptocurrency would one day hit $1 million, they would’ve laughed. Ten years ago, a single coin traded for less than $1.00; at times, it traded for a price well under a cent.But times have changed. Now, instead of getting laughed at, those predicting…
Bitcoin is up more than 5% and it broke the key $7,500 resistance against the US Dollar. BTC is now approaching a major hurdle near $8,000 and the 100-day simple moving average.Bitcoin is gaining bullish momentum above $7,000 and $7,200 against the US Dollar.The price is likely to face a strong resistance near $8,000 and…
Cryptocurrency investors were quite disturbed to see Bitcoin trade as a firmly risk-on asset when it closely mirrored the weakness seen by the traditional markets as investors began to understand the depth of the Coronavirus pandemic’s implications.Bitcoin’s weakness reached a boiling point in early-March, when the poor performance seen by the S&P 500 and other…